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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues        
Rental revenue, net $ 240,585 $ 193,252 $ 469,555 $ 385,462
Escalation and reimbursement 34,994 28,655 65,269 58,749
Investment and preferred equity income 15,144 20,788 79,823 41,167
Other income 9,932 8,877 17,180 17,075
Total revenues 300,655 251,572 631,827 502,453
Expenses        
Operating expenses (including approximately $3,498 and $6,613 (2011) and $3,077 and $6,180 (2010) paid to affiliates) 62,406 52,748 122,710 109,531
Real estate taxes 43,975 37,194 84,042 74,166
Ground rent 7,813 7,679 15,647 15,501
Interest expense, net of interest income 68,990 56,941 134,063 113,729
Amortization of deferred financing costs 2,690 1,571 6,496 3,867
Depreciation and amortization 65,539 55,373 129,036 110,898
Loan loss and other investment reserves, net of recoveries 1,280 4,985 (1,870) 10,985
Transaction related costs 1,217 4,104 3,651 5,162
Marketing, general and administrative 22,454 18,379 42,475 36,778
Total expenses 276,364 238,974 536,250 480,617
Income from continuing operations before equity in net income of unconsolidated joint ventures, noncontrolling interests and discontinued operations 24,291 12,598 95,577 21,836
Equity in net income from unconsolidated joint ventures 2,184 10,005 10,390 25,381
Equity in net gain on sale of interest in unconsolidated joint venture   126,769   126,769
Purchase price fair value adjustment 475,102   488,890  
Loss on investment in marketable securities (6)   (133) (285)
Gain (loss) on early extinguishment of debt 971 (1,276) 971 (1,389)
Income from continuing operations 502,542 148,096 595,695 172,312
Net income from discontinued operations 560 2,403 1,298 4,320
Gain on sale of discontinued operations 46,085   46,085  
Net income 549,187 150,499 643,078 176,632
Net income attributable to noncontrolling interests in the operating partnership (11,925) (2,467) (13,776) (2,758)
Net income attributable to noncontrolling interests in other partnerships (3,259) (3,449) (6,869) (7,097)
Net income attributable to SL Green 534,003 144,583 622,433 166,777
Preferred stock dividends (7,545) (7,545) (15,089) (14,660)
Net income attributable to SL Green common stockholders 526,458 137,038 607,344 152,117
Amounts attributable to SL Green common stockholders:        
Income from continuing operations 480,858 134,675 561,015 147,874
Net income from discontinued operations 548 2,363 1,269 4,243
Gain on sale of discontinued operations 45,052   45,060  
Net income $ 526,458 $ 137,038 $ 607,344 $ 152,117
Basic earnings per share:        
Net income from continuing operations before discontinued operations (in dollars per share) $ 5.75 $ 0.13 $ 6.87 $ 0.30
Net income from discontinued operations (in dollars per share) $ 0.01 $ 0.03 $ 0.02 $ 0.05
Gain on sale of discontinued operations (in dollars per share) $ 0.54   $ 0.55  
Gain on sale of interest in unconsolidated joint venture (in dollars per share)   $ 1.60   $ 1.60
Net income attributable to SL Green common stockholders (in dollars per share) $ 6.30 $ 1.76 $ 7.44 $ 1.95
Diluted earnings per share:        
Net income from continuing operations before discontinued operations (in dollars per share) $ 5.71 $ 0.13 $ 6.84 $ 0.30
Net income from discontinued operations (in dollars per share) $ 0.01 $ 0.03 $ 0.02 $ 0.05
Gain on sale of discontinued operations (in dollars per share) $ 0.54   $ 0.54  
Gain on sale of interest in unconsolidated joint venture (in dollars per share)   $ 1.59   $ 1.59
Net income attributable to SL Green common stockholders (in dollars per share) $ 6.26 $ 1.75 $ 7.40 $ 1.94
Dividends per share (in dollars per share) $ 0.10 $ 0.10 $ 0.20 $ 0.20
Basic weighted average common shares outstanding (in shares) 83,578 78,046 81,632 77,936
Diluted weighted average common shares and common share equivalents outstanding (in shares) 86,010 79,791 83,995 79,771